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Pasqual Melo is employed by a public corporation. On January $1,2019,$ she was given an option to purchase $1,100$ shares of the public corporation for $$8$ per share $($the option extended for two years$).$

On December $15,2019,$ she exercised her option and bought $1,100$ shares at $$8$ per share $($total $=$ $$8,800).$

On June $15,2022,$ she sold the $1,100$ shares. The value of the shares at the particular dates was as follows:

Date option granted

$ $8\mathrm{.}50$

Date option exercised

$11$

Date shares sold

$16$ Determine the amount and type of income and when that income is taxable.

Year

Amount

FMV of shares on exercise date

Cost of shares acquired on exercise date

Employment Income

Stock option deduction

Taxable Income

When the shares are sold

Proceeds from Sale

ACB of shares

Capital Gain

Taxable capital gain

Determine the amount and type of income and when that income is taxable if the value of the shares at the date the option was granted was $$8$ rather than $$8\mathrm{.}50?$

FMV of shares on exercise date

Cost of shares acquired on exercise date

Employment Income

Stock option deduction

Taxable Income

When the shares are sold

Proceeds from Sale

ACB of shares

Capital Gain

Taxable capital gain Determine the amount and type of income and when that income was taxable if the employer is a Canadian$-$controlled private corporation

FMV of shares on exercise date

Cost of shares acquired on exercise date

Employment Income

Stock option deduction

Taxable Income

When the shares are sold

Proceeds from Sale

ACB of shares

Capital Gain

Taxable capital gain

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